Market Segmentation

Insight by Provider

On the basis of provider, the global blockchain market is categorized into middleware provider, application & solution provider, and infrastructure & protocols provider, wherein infrastructure & protocols provider category is expected to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing demand for the blockchain protocol such as Ethereum, Hyperledger, Openchain, and BigChainDB. In addition, increasing demand for blockchain protocol to develop games such as Spells of Genesis, EtherWarfare, and CryptoKitties is expected to boost the demand for infrastructure & protocol segment during the forecast period.

Insight by Application

Based on application, the blockchain market is segmented into smart contracts, payments, documentation, supply chain management, exchanges, governance, risk, and compliance management, digital identity, and others. Among all these segments, payment contributes the largest revenue globally, however, digital identity application is expected to witness the fastest growth during the forecast period. The growth of this segment is attributed towards increasing adoption of these techniques by several key players operating in the blockchain market for financial transactions as it helps in reducing the requirement for central administration or mediator.